KIEV, Jan. 25 – Discussions between Ukrainian authorities and the International Monetary Fund on a new Stand-By Arrangement could take several months, according to Standard & Poor's international rating agency.

"The provision of new loans from the IMF depends on the implementation of key structural reforms... The discussions with the IMF could take up to several months, and the agreements signed will be difficult to implement," reads a report from S&P.

According to the S&P experts, problematic issues include an increase in domestic tariffs for gas, budget consolidation and a more flexible currency exchange rate regime.